S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4127
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 9, 2023
                                ___________
 
 Introduced  by M. of A. ROZIC -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation  to  the  personal  income  tax
   credit for residential solar energy systems
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph 1 of subsection (g-1) of section 606 of  the  tax
 law,  as  amended by chapter 375 of the laws of 2012, is amended to read
 as follows:
   (1) General. An individual taxpayer shall be allowed a credit  against
 the  tax  imposed by this article FOR EACH PROPERTY WITH QUALIFIED SOLAR
 ENERGY SYSTEM EQUIPMENT EXPENDITURES equal  to  twenty-five  percent  of
 SUCH  qualified  solar  energy  system equipment expenditures, except as
 provided in subparagraph (D) of paragraph two of this  subsection.  This
 credit  shall  not exceed three thousand seven hundred fifty dollars for
 qualified solar energy equipment  placed  in  service  before  September
 first,  two  thousand six, and five thousand dollars for qualified solar
 energy equipment placed in service on  or  after  September  first,  two
 thousand six.
   §  2.  Subparagraph  (A) of paragraph 2 of subsection (g-1) of section
 606 of the tax law, as amended by chapter 375 of the laws  of  2012,  is
 amended to read as follows:
   (A)  The  term  "qualified solar energy system equipment expenditures"
 means expenditures for:
   (i) the purchase of solar energy system equipment which  is  installed
 in  connection  with  residential  property which is (I) located in this
 state and (II) which is [used] OWNED by the  taxpayer  [as  his  or  her
 principal  residence]  at  the time the solar energy system equipment is
 placed in service;
   (ii) the lease of solar energy system equipment under a written agree-
 ment that spans at least ten years  where  such  equipment  owned  by  a
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05038-01-3
              

 A. 4127                             2
 
 person  other than the taxpayer is installed in connection with residen-
 tial property which is (I) located in  this  state  and  (II)  which  is
 [used]  OWNED by the taxpayer [as his or her principal residence] at the
 time the solar energy system equipment is placed in service; or
   (iii)  the  purchase  of power under a written agreement that spans at
 least ten years whereunder the power purchased  is  generated  by  solar
 energy  system equipment owned by a person other than the taxpayer which
 is installed in  connection  with  residential  property  which  is  (I)
 located in this state and (II) which is [used] OWNED by the taxpayer [as
 his  or  her  principal  residence]  at the time the solar energy system
 equipment is placed in service.
   § 3. Paragraph 4 of subsection (g-1) of section 606 of the tax law, as
 amended by chapter 378 of the laws  of  2005,  is  amended  to  read  as
 follows:
   (4)  Multiple  taxpayers.  Where  solar  energy  system  equipment  is
 purchased and installed in a [principal  residence  shared]  RESIDENTIAL
 PROPERTY OWNED by two or more taxpayers, the amount of the credit allow-
 able  under  this  subsection  for  each such taxpayer shall be prorated
 according to the percentage of the  total  expenditure  for  such  solar
 energy system equipment contributed by each taxpayer.
   § 4. Paragraph 5 of subsection (g-1) of section 606 of the tax law, as
 added by chapter 128 of the laws of 2007, is amended to read as follows:
   (5)  Proportionate  share.  Where  solar  energy  system  equipment is
 purchased and installed by a condominium  management  association  or  a
 cooperative  housing  corporation,  a  taxpayer  who  is a member of the
 condominium management association or who is a tenant-stockholder in the
 cooperative housing corporation may for the purpose of  this  subsection
 claim  a proportionate share of the total expense as the expenditure for
 the purposes of the credit attributable to his [principal residence]
  OR HER PROPERTY.
   § 5. This act shall take effect on the first of January next  succeed-
 ing  the  date  on  which  it shall have become a law and shall apply to
 taxable years beginning on and after such date.